{"id":126837,"date":"2020-05-15T15:38:14","date_gmt":"2020-05-15T13:38:14","guid":{"rendered":"https:\/\/highxtar.com\/?p=126837"},"modified":"2020-05-15T15:38:14","modified_gmt":"2020-05-15T13:38:14","slug":"five-keys-that-will-change-fashion-and-luxury-after-the-covid-19","status":"publish","type":"post","link":"https:\/\/highxtar.com\/en\/five-keys-that-will-change-fashion-and-luxury-after-the-covid-19\/","title":{"rendered":"Five keys that will change fashion and luxury after the Covid-19"},"content":{"rendered":"

Have you not wondered what the new normal will look like after the pandemic? We do. In addition, we have been researching how retail will be affected<\/a>. That’s why we bring you five keys that could change fashion and luxury after the coronavirus crisis.<\/strong><\/p>\n

\"claves\"<\/p>\n

The coronavirus crisis has affected the course of life as we have known it so far. The new normal affects all social sectors, including fashion and luxury. According to the Boston Counsulting Group<\/strong><\/a>, sales in the fashion industry could drop by 25 to 30 percent this year. Encouraging this estimate, Brand Finance<\/strong> believes global companies could lose up to $1 worth of their brand this 2020.<\/p>\n

To alleviate this situation, the industry’s most important luxury homes have provided financial support to health services and their workers. This is the case with LVMH, Kering and Prada Group<\/strong>. In addition, these houses have launched disinfectant gels, masks and lab coats.<\/p>\n

Beyond these initiatives<\/strong>, companies are studying new strategies to deal with the crisis. They thought online sales would partly balance their finances. However, many of the firms have not been able to guarantee deliveries so they deleted the online shopping service.<\/p>\n

This loss in their finances leads us to consider the drastic changes that will occur in the industry. For now we show you these five keys:<\/p>\n

1. Increase digitalization<\/strong>
\nTo overcome excess merchandise due to the closing of stores, the firms will deepen online sales. This service will provide the customer with a much more guided and personal experience during the purchase. Retailers like Farfetch are also involved here, and they will help increase sales through their platforms. Initiatives such as the creation of new virtual stores or ephemeral \u201cemerging stores\u201d will be the key to encouraging sales and product flow.<\/p>\n

In addition, large publications such as Vogue<\/strong> or designers such as Jacquemus<\/strong> have begun taking photo sessions via FaceTime. Perhaps this initiative will last and remote content creation will multiply.<\/p>\n